Brokerages expect that Asante Solutions Inc (NASDAQ:PUMP) will announce $421.13 million in sales for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Asante Solutions’ earnings. The highest sales estimate is $435.50 million and the lowest is $410.36 million. Asante Solutions posted sales of $213.49 million in the same quarter last year, which would indicate a positive year over year growth rate of 97.3%. The firm is scheduled to report its next earnings report on Tuesday, August 14th.
On average, analysts expect that Asante Solutions will report full-year sales of $1.62 billion for the current fiscal year, with estimates ranging from $1.33 billion to $1.73 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.78 billion per share, with estimates ranging from $1.34 billion to $1.95 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Asante Solutions.
Asante Solutions (NASDAQ:PUMP) last announced its quarterly earnings data on Tuesday, May 8th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.38 by $0.04. The business had revenue of $385.20 million for the quarter, compared to analyst estimates of $375.75 million. During the same quarter in the previous year, the firm posted ($0.43) earnings per share. The business’s revenue was up 124.1% on a year-over-year basis.
PUMP has been the subject of several analyst reports. Piper Jaffray Companies set a $19.00 target price on shares of Asante Solutions and gave the company a “buy” rating in a research note on Wednesday, March 28th. Royal Bank of Canada set a $20.00 target price on shares of Asante Solutions and gave the company a “buy” rating in a research note on Wednesday, March 28th. Zacks Investment Research cut shares of Asante Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, March 1st. Macquarie initiated coverage on shares of Asante Solutions in a research note on Friday, June 8th. They issued a “neutral” rating and a $17.00 target price for the company. Finally, Credit Suisse Group boosted their target price on shares of Asante Solutions from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, May 21st. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $21.73.
In related news, Director Pryor Blackwell acquired 13,404 shares of Asante Solutions stock in a transaction on Thursday, June 7th. The stock was bought at an average cost of $15.36 per share, for a total transaction of $205,885.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
A number of large investors have recently bought and sold shares of PUMP. Bank of New York Mellon Corp raised its position in Asante Solutions by 194.7% during the fourth quarter. Bank of New York Mellon Corp now owns 326,642 shares of the company’s stock worth $6,584,000 after acquiring an additional 215,802 shares during the period. American International Group Inc. raised its position in Asante Solutions by 126.9% during the fourth quarter. American International Group Inc. now owns 38,425 shares of the company’s stock worth $775,000 after acquiring an additional 21,491 shares during the period. EAM Investors LLC acquired a new position in Asante Solutions during the fourth quarter worth $2,756,000. Geode Capital Management LLC raised its position in Asante Solutions by 65.7% during the fourth quarter. Geode Capital Management LLC now owns 474,679 shares of the company’s stock worth $9,569,000 after acquiring an additional 188,286 shares during the period. Finally, ETRADE Capital Management LLC acquired a new position in Asante Solutions during the fourth quarter worth $738,000.
Shares of Asante Solutions traded up $0.10, hitting $15.52, during trading hours on Friday, according to MarketBeat.com. The stock had a trading volume of 1,625,800 shares, compared to its average volume of 2,014,168. Asante Solutions has a fifty-two week low of $10.84 and a fifty-two week high of $22.88.
About Asante Solutions
Asante Solutions, Inc is a medical device company. The Company is a manufacturer of Asante Snap Insulin Pump System (Snap system), which is a pump featuring a modular design with pre-filled insulin cartridges and disposable pump bodies, utilized in combination with a controller. The Snap system comprises four components: the Snap system controller, a disposable pump body, disposable pre-filled insulin cartridges and disposable infusion sets.
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